Simplicity Wealth LLC Takes $26,000 Position in Banco Bradesco S.A. (NYSE:BBD)

Simplicity Wealth LLC acquired a new stake in Banco Bradesco S.A. (NYSE:BBD) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,731 shares of the bank’s stock, valued at approximately $26,000.

A number of other large investors also recently modified their holdings of BBD. Peapack Gladstone Financial Corp boosted its holdings in Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock valued at $32,000 after purchasing an additional 6,000 shares during the period. Merit Financial Group LLC bought a new stake in Banco Bradesco during the first quarter valued at $37,000. Stifel Financial Corp bought a new stake in Banco Bradesco during the fourth quarter valued at $39,000. HighTower Advisors LLC boosted its stake in Banco Bradesco by 27.2% during the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock valued at $48,000 after buying an additional 5,421 shares during the period. Finally, Vestmark Advisory Solutions Inc. boosted its stake in Banco Bradesco by 135.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 27,675 shares of the bank’s stock valued at $53,000 after buying an additional 15,911 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BBD shares. Citigroup upgraded Banco Bradesco from a “hold” rating to a “buy” rating in a research report on Wednesday, May 28th. Bank of America upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.40.

Banco Bradesco Trading Down 0.8%

Shares of BBD stock opened at $2.98 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The business has a 50-day moving average price of $2.58 and a two-hundred day moving average price of $2.24. Banco Bradesco S.A. has a 12-month low of $1.84 and a 12-month high of $3.02. The firm has a market cap of $31.66 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.32 and a beta of 0.71.

Banco Bradesco (NYSE:BBD) last released its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. Equities analysts anticipate that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 5th will be issued a $0.0021 dividend. The ex-dividend date is Wednesday, June 4th. This represents a dividend yield of 0.88%. Banco Bradesco’s payout ratio is 6.25%.

Banco Bradesco Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.